TCS fourth quarter results today: What to expect
IT major Tata Consultancy Services (TCS) is expected to announce its quarterly results later today and is expected to post an estimated net profit of Rs 6,483 crore, a 4.4% fall on a quarterly basis and a 2.2% growth on a yearly basis. In the December-end quarter, TCS had reported a net profit of Rs 6,778 crore.
TCS’ results will be keenly watched on Tuesday after its rival Infosys disappointed investors with a lower-than-expected growth in net profit for the March-ended quarter at Rs 3,606 crore.
This will be the first quarterly announcement for the company after N Chandrasekaran departed to fill the corner office left empty by Tata Sons’ ousted chairman Cyrus Mistry.
TCS – India’s largest IT company by revenue – is expected to post an estimated revenue of $4,472 million (approximately Rs 29751.09 crore), a growth of 1.9% compared to the preceding quarter and 6.3% over the March-ending quarter last year, according to a institutional research report by HDFC Securities. The marginal growth in the company’s revenue is expected on the back of the impact of rupee appreciation on the company’s financials.
TCS had reported $4,387 million (nearly Rs 29185.61 crore – according to current rates) revenue …read more
